It’s been an intense seven days with offers at urbaneer.com being negotiated most every day. Hello Busy Beaver!
One urbaneer.com listing received two offers within seventy-two hours of coming to market, another received three bully offers two days before the offer date, and a third listing had twenty-three showings right out of the gate with one offer coming in over the asking price prior to negotiations! It definitively remains a Sellers’ market.
Securing the right property remains a challenge for Buyers, but there have been some opportunities peeking through like silver linings amidst the storm clouds of competition. Two of my Buyers recently managed to negotiate properties under the list price. In one instance my Buyer was interested in a condominium which had been on the market a week. In this real estate climate, seven days on the market is long enough to imply a property is over-priced.
Just as we negotiated the deal for $10,000 below the list price, the suite directly next door, having a less desirable floor plan and fewer upgrades, came to market. It immediately sold in competition for a higher price than what my buyer paid, which was a bit of a coup for my client and I. On the second buy my Purchaser signed his offer early, allowing me to register it with the listing brokerage in advance of the offer presentation time. Presumably we registered it early enough to send a message to other Buyers that my Purchaser was prepared to compete should another bid come in. I think it spooked other interested parties and dissuaded them from offering, which allowed us to be the only buyer at the table.
Fortunately, being the only offer enabled me to negotiate the house for three percent less than what my Purchaser was prepared to pay. That translated into thousands of dollars less and a happy client.
So goes the expression, “Make Hay While The Sun Shines”
Unfortunately, it has left urbaneer.com with a shortage of listings. Are you thinking of selling? I’d be delighted to assist.
Here’s this week’s Globe and Mail ad, with a Technology Theme. You Like?
If you’re looking for excellence, don’t hesitate to contact me at email@example.com
Amusing Ads – Globe & Mail